The only thing you need to collect vast sums of money with StriderPay™ is a “Business” category PayPal account.
You can create an PayPal “Business” account as an Individual or as a Company.
“Business” is simply the default term PayPal uses for accounts that receive funds for services.
You have two options:
Option 1: Sign Up For A PayPal Account (it’s free). Step 10 is The.Most.Important.Step.
Like Option #1?
Below is The STRIDER 5 Minute Guide for How to Set Up a PayPal Account to Receive ECInstantPay™ Payments.
Also Known As “How to Set up A PayPal “Business” Account as an Individual or Company“
Getting your “Business category” PayPal account setup will take about 5 minutes.
The below guide is configured for those of you receive funds in your personal name, as that is what we get the most questions about.
If you have a business with an EIN number, just adjust your answers accordingly.
Step 1: Go to https://www.paypal.com/us/webapps/mpp/account-selection and select “Business Account
Step 2. Enter the email address you wish to use
Step 3: Select Payments Standard
Step 4: Input the basic information about how to contact you
Step 5: Select the business entity you have. Select <Individual/Sole Proprietorship> if you are doing business in your own name.
Step 6: There are dozens of options to choose from in the dropdown selections. Proposed answers that may suit you are shown above.
Step 7: If you are doing business in your own name, this is the screen you’ll see.
Step 8: At last! You’ve created the account. Just a couple things left. Click “Account Setup” Tab. This is where you will validate that you are a legit person and not a money-launder.
(You can disregard the questions asked on the Payment Setup Tab.)
Step 9: PayPal needs you to address items before they will validate your account. You’ll see which items are outstanding with the gear “settings” icon near the Profile link.
For ECInstantPay™, make sure to:
- Connect & Verify your bank account. (You want to spend the vast sums of money routed to you, right??)
- Confirm your email address by clicking the confirmation link PayPay send you. Check your email spam folder if you don’t see it a few minutes after requesting.
Step 10. Confirm your email address by clicking the link PayPal send you. Example below.
If you do not confirm the email address, attempts to route you $$$$ will trigger PayPal’s fraud alert system. You’ll be sad to see your$$$$ transfers blocked.
Success! PayPal likes you. And you are ready to accept payments with StriderPay™.
Option 2: Upgrade your existing Personal PayPal Account to the “Business” Category Account (FREE).
PayPal Personal accounts have limits on how much $$ they can receive and are not supported with StriderPay™.
You’ll need to upgrade your Personal account to a business category in order to use StriderPay™ successfully.
The upgrade does not change your business structure. If you receive $$ as an individual, you’ll continue to do so.
“Business” is just how PayPal categorizes user accounts that sell services. PayPal “Business” Accounts allow you to conduct transactions either as individual OR under a company name.
Note: What was formerly PayPal Personal Premier is now called a PayPal Business “Individual” account. Yes, we know it’s confusing.
Bottom line: If that’s what you had, keep it.:) It will work with StriderPay™.
Go to https://www.paypal.com/UPGRADE and log in to your PayPal account
Click the <Upgrade Now> button at the bottom of the page.
- The next page will allow you to upgrade to a “Business Category” Account.
Click the <Continue> button.
If you choose to continue using your personal name, simply select “Individual/Sole Proprietorship” as your business type.
4. Once you have selected a “Business” Account, you will be asked to enter your Business Information, then click <Continue>
5. Follow the prompts from PayPal to provide any other missing details required.
6.Make sure to VERIFY the account if it wasn’t verified as a Personal account.
(Connect your US based bank account so PayPal confirm see you are not an off-shore money launder!)